Hedge fund assets increased 15.4% to $1.5 trillion in the 12 months ended June 30, the results of Pensions & Investments' annual survey showed. That compares with a 15.2% rate of growth in the aggregate assets in the 2013 survey.
Assets of the 25 largest hedge fund managers totaled $715 billion as of June 30, up 8.6% from a year earlier. The 2014 growth rate was lower than the 9.9% for the year ended June 30, 2013, but well above the 3.6% pace for the same date in 2012, P&I archival data showed.
Aggregate assets of P&I's hedge funds-of-funds survey universe experienced a 9.3% growth spurt to $441 billion as of June 30, representing a 210-basis-point increase compared to the 7.2% increase in 2013 and a big improvement on the 6% decline in assets revealed in the 2012 survey.
The 25 largest hedge funds-of-funds managers ran a collective $364 billion in commingled, separate account and customized strategies as of June 30, up 8.6% from the prior year and higher than the 7.1% 2013 growth rate and much better than the 7% decline the group experienced in 2012, P&I data showed.
P&I's 2014 special report on hedge funds and hedge funds-of-funds managers will be published in the Sept. 15 issue.